What Works on Wall Street (O'Shaugnessy) Message Board

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Strategies & Market Trends : What Works on Wall Street (O'Shaugnessy)

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To: sea_biscuit who wrote (53)	3/28/1997 7:03:00 AM
From: Jeff Maresh	of 109

Dipy - I'm with you on this comment. Fisher's recommendation for buying big "smokestack" companies is to buy below 0.4 PSR and sell above 0.8. Also bear in mind that traditionally the Dow group has risen about 10% in price per year historically. It would be interesting to see if earnings have risen at much higher rates during the past few years which would lead one to justify higher PSRs. You Wrote: What is more important, however, is that even among these large companies, there are only two stocks that have a PSR < 0.6 and only six with a PSR < 0.8 ! Now, if this doesn't convince anybody that this market is enormously overvalued, probably nothing will. Regards Jeff

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